Threat of strike in Australia pushed to late June

The threat of a strike against the major Australian iron ore export port, Port Hedland, has been postponed one month, according to Reuters.

Late Thursday the Australian tugboat operators reached an agreement to postpone a potential strike in the Australian Port Hedland, from where one fourth of the world's iron ore is exported, according to Reuters.

The seafarers - deckhands - represented by the Maritime Union of Australia (MUA), have approved plans of a walkout for one, two, or seven days, a move that according to the mining industry would block the export of iron ore for around USD 100 million per day. A recent guess was that a strike could potentially break out on June 11th, but the possible walkout from the tugboat operators has now been postponed till late June, due to -  among other things - the fact that the MUA wants more time to negotiate with tugboat company Teekay Shipping.

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